Spearmint Energy, a renewable energy company focused on the clean energy revolution through battery energy storage, has added Elda River Capital Management LLC, a real assets investment firm focused on energy transition and infrastructure opportunities, has joined its $200 million enhanced credit facility alongside Nuveen’s Energy Infrastructure Credit team and Aiga Capital Partners.
The term loan supports the continued development and operation of Spearmint’s 4.1 GW portfolio of battery energy storage system (BESS) assets, which includes over 1.0 GW of projects nearing construction in Texas’ ERCOT power market and Revolution, Spearmint’s commercially operating, 150 MW / 300 MWh BESS project in West Texas. The loan will also support the continued expansion of Spearmint’s project development pipeline across the U.S.
“The Elda River team has a proven track record of successfully investing in the renewable energy and infrastructure sectors and shares our mission of enabling nationwide access to cost-effective clean energy,” comments Cory Magnuson, CFO of Spearmint. “Their partnership further underscores investors’ trust in Spearmint’s ability to meaningfully contribute to a greener future through battery energy storage.”